Brexit Will Not Cause Significant Drop in Britons Holidaying this Summer

LONDON–(BUSINESS WIRE)–The UK may have voted to leave the European Union, but results of a new
survey* commissioned by global travel deals publisher Travelzoo (NASDAQ:
TZOO) suggests the impact on Britons travelling this summer will be
minimal. Only 3% of Britons now plan to cancel due to concerns about the
current value of the pound, and 37% will still head to the continent
this summer.

Travelzoo’s June representative survey was carried out in the days just
after the vote, and the results show that Spain and France are the most
popular summer holiday destinations with UK travellers. The US is also
proving popular, and is the highest-ranked destination outside of
Europe. This news comes in spite of the British pound’s instability
against the US dollar.

The increasing popularity of long-haul travel in general seems
unaffected by the Brexit vote – Australia and Canada also made the
top-10 list, joining destinations closer to home, such as Portugal,
Greece, Italy and Cyprus.

Travelzoo is also reporting increasing demand for all-inclusive
holidays, with over a quarter (26%) saying they would be more likely to
opt for one this year.

Joel Brandon-Bravo, travel commentator and UK Managing Director of
Travelzoo said: “The stoic British spirit has prevailed and it’s
incredibly positive to see people still pushing ahead with their holiday
plans. However, for this to continue we urge the UK government to act
quickly to resolve uncertainties around visa restrictions and other
possible changes impacting travel. If they react slowly, and tourism is
pushed down the list of priorities, British holidaymakers could be
facing more expensive overseas holidays, and consequently we could see a
dip in travel. First and foremost, we need reassurance from those
negotiating our exit from the EU that tourism will be a high priority.
We have to understand how an independent UK can operate in the European
Common Aviation Area, otherwise we’ll be living in a world of reduced
competition, reduced routes and higher travel prices. Action is needed
now. From talking to several travel companies, I would also advise
booking soon. The fall in the pound will take time to filter through
into higher costs for flights and cruises but a sustained lower pound
will eventually cause a price hike.”

Despite the vote to leave the EU last month, 9% are worried they’ll be
treated negatively while on holiday, and over four-fifths (81%) said
that the EU referendum has had no impact on their willingness to travel
this summer.

However, the survey reveals that almost half of UK travellers (47%) have
concerns regarding additional holiday costs in the coming months and
years, and a third of respondents fear the cost of travel insurance
(31%) and mobile roaming charges (34%) will rise.

When asked about how they feel over safety now we have voted to leave
the EU, 21% said they believed being outside will make it harder to
combat terrorism both abroad and at home in the UK.

*About the research

Travelzoo’s survey was conducted by Atomik Research using an online
questionnaire. 1,091 UK consumers completed the survey on 28 and 29
June, 2016.

About Travelzoo

Travelzoo is a global media commerce company. With more than 28 million
members in Asia Pacific, Europe and North America, and 25 offices
worldwide, Travelzoo® publishes offers from more than 2,000 travel,
entertainment and local companies. Travelzoo’s deal experts review
offers to find the best deals and confirm their true value.

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